To answer your question in some ways requires going into theology and of course there will be differing viewpoints. So please keep in my that this is only my viewpoint and experience.
Being saved or "salvation" is an ongoing process that starts when God came into my heart and started to draw me to Him. I at that point became
willing. This willingness is the key that opens the door.
I realized at Step 1 that I was powerless over sin and my life was a shamble as a result. When I came to Step 2, I was told to open my spiritual eyes to see how a God who I could not see, feel, hear or touch was going to restore me to sanity. I had to see how the right person, the right reading, the right circumstances were being put in my path by God to lead me to where I needed to be in a relationship with Him.
Step 3, I made the decision to follow through with this by turning my will and life over to this force called God.
How can I do God's will when I cannot discern between when I am doing my will or His will? Sure I could go and go sell everything I own and give it to the poor but that may not be what God has in mind for me. So I need to go on to Step 4 to look at the fruit of my will. When I see that, it will become easier for me to turn and do God's will instead.
When I was working Step 2, I started to have some amazing days of peace and contentment like I hadn't experienced since I was young.
Step 3 was again a pretty strong experience when myself and 12 other hardcore alcoholics and drug addicts got down on our knees at a friends house and collectively turned our will's and lives over to His care.
Now , some people would say that is all that is required to be saved or get salvation. Unfortunately in the circles I travel it never or extrememly rarely is enough. Those who go no further may have had some spiritual experiences before that point but if they go no further they eventually relapse into their old lifestyles.
This is why I myself do not believe in OSAS (once saved, always saved)
So next comes the repentance process where we also start to see the character flaws and shortcomings that made life such a burden.
Step 4 was an eye-opener for me. Step 5 is where I shared tthe worst parts of that Step 4 with an understanding person and in the sight of God. I walked out of that meeting on cloud 9. I had been forgiven!!
Now, in Step 6 & 7 I want to be rid of these character flaws that had caused me so much problem. Not quite as easy as it sounds. I actually had to pray for the willingness to be rid of some of them. I had used anger and sarcasm as a defense mechanism for years and I felt naked without them. There were others too that I had some hesitation about but God over the next few weeks and months showed me the consequences of them which in turn made me more willing.
By the time I was this far I actually was looking forward to the next 2 Steps. I had really come to realize how I had hurt people around me with either my anger or my neglect when they were not deserving of either. God put several people in my path that I hadn't seen for a number of years but owed an amend to. The feeling after is wonderful. The more I did it the higher my head came up and I was able to start looking people in the eye again. I started to feel love and compassion for my family and friends rather then the anger and resentment that had been the norm for many years.
Now, again I will mention that I know of people who stopped before they came to these 2 Steps. They also eventually returned to their old lifestyles or maintained a certain type of miserable existense that included a lot of bitterness and resentment.
Are they saved? I don't know. Not for me to judge. But I do know that they could have had a much more abundant and fruitful life if they had gone all the way.
Note that when I say "abundant" that does not necessarily mean one without problems or hardship but it does mean that one goes through those things like they are a minor bump in the road rather than the car-swallowing pothole they were in past.
After this comes what are called the maintenance Steps. 10, 11 , 12
Step 12 is the one that says we will have a spiritual awakening as a result of these Steps. What it meant for me is that I started to have a God-conciousness. An awareness of His presence and that I could call on Him when I needed strength or peace of mind.
Am I saved or have I salvation? I think so. I feel like I am born-again and a new-creature in Christ as some would say. My whole outlook on life has changed. I am on a road to wholeness/holiness and I continue to be willing to deal with those flaws that God may convict me of from time to time because I value the relationship i have with Him today.
The whole Step 4 format is easier to realize when one sees the actual paperwork. You can download a copy here:
4th Step Guide